Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 26, 2021

Fair Value Disclosures [Abstract]

Fair Value Hierarchy

At December 26, 2021 and December 27, 2020, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share):

			Fair Value Measurements Using
(In millions)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
December 26, 2021
Assets:
Available-for-sale securities	$	1.9	1.9	—	—
Derivatives	10.9		—	10.9	—
Total assets	$	12.8	1.9	10.9	—
Liabilities:
Derivatives	$	2.6	—	2.6	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	4.3	—	2.6	1.7
December 27, 2020
Assets:
Available-for-sale securities	$	2.1	2.1	—	—
Derivatives	4.8		—	4.8	—
Total assets	$	6.9	2.1	4.8	—
Liabilities:
Derivatives	$	12.7	—	12.7	—
Option agreement	20.6		—	—	20.6
Total liabilities	$	33.3	—	12.7	20.6

Reconciliation of Level 3 Fair Value

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company’s financial instruments which use significant unobservable inputs (Level 3):

(In millions)	2021		2020
Balance at beginning of year	$	(20.6)	$	(22.1)
Gain from change in fair value	18.9		1.5
Balance at end of year	$	(1.7)	$	(20.6)